If you’ve been following Fission’s activity recently you’ll know that a lot has been going on. We’ve now started trading and will be releasing the remaining assay results from the Winter program at PLS as they come in. Our latest announcement, however, is a joint venture agreement with Azincourt Resources.
The agreement still needs TSX approval of course but once done it will enable Azincourt to acquire up to a 50% interest in Patterson Lake North (PLN) by incurring $12,000,000 of staged exploration expenditures and paying $4,750,000 in cash or Azincourt shares (at Azincourt’s election) on or before April 29, 2017.
Our Chief Geologist, Ross McElroy, is in my opinion one of the most successful uranium explorers you could hope to find. He has been instrumental in five of the last nine major discoveries in the Athabasca Basin and that should tell you a great deal about the quality of the properties that have been staked under his direction. So what you have with this agreement is a highly committed management team (Azincourt) partnering with a highly successful and equally committed management and technical team (Fission) to explore a prospective property.
So in addition to the PLS discovery we have these other highly prospective projects in the Western part of the Athabasca which are ideally suited for a JV approach. PLN lies within a large basin scale NE trending gravity low structural corridor that also incorporates the adjacent PLS property – home to the major discovery that our exploration team recently made.
I recommend you check out the press release on the Fission Uranium website for more details on the deal and PLN.
Dev Randhawa, CEO of Fission Uranium Corp.
